Carmakers are stepping up with some financial relief for those looking to buy a new car or sweating their monthly payments during this rare period where many Americans’ daily lives are on pause. That’s because ensuring a healthy population comes with an economic cost: With kids out of school, parents working from home, large gatherings canceled, and public facilities closing, car shopping isn’t going to be top of mind for most people. And those still paying off a car loan may be worried about making their payments if their employment has been cut back or suspended.Before you start making phone calls for help, read your finance contract. Just because you bought, say, a Ford [] vehicle, doesn’t mean it’s financed by Ford Credit. Dealers have many financing options on offer, so be sure to read the fine print so you can call the correct lender to ask for assistance.To that end, many automakers have announced temporary measures to help customers, including measures such as delaying payments or offering attractive deals for new car buyers. Here’s what to know:FCA: CHRYSLER, DODGE, JEEP, RAM, FIAT, ALFA ROMEOFCA primarily relies on Chrysler [] Capital and Ally to provide funding for leases and new car purchases. Currently, Ally and Chrysler Capital are offering a variety of payment-relief options. Customers are advised to contact Chrysler Capital or Ally for specific details, according to an FCA spokesman. Ally Financial is offering the option to delay payment for 90 days on a new vehicle.“Our FCA dealers are continuing to sell vehicles and provide services throughout the U.S. and Canada,” said U.S. head of sales Jeff Kommor. “We have asked all of our dealers to take any necessary steps to protect their workers and customers. All decisions regarding the operation of dealerships and showrooms rests with the dealers since they are independent business owners. Any questions regarding a dealership should be directed to the specific dealer. Any additional questions should be directed to the National Automobile Dealers Association. We will continue to monitor the situation.”[][|660:433]FORDFord Credit advises that impacted U.S. customers should contact them to discuss potential options such as delaying payments for a leased or purchased vehicle if they are having difficulty paying on time. And at a time when new-car sales have dropped like a stone with no immediate recovery in sight, Ford Credit is offering a program where the first payment on a new vehicle can be deferred for 90 days.“Ford is committed to lending a hand to the people who rely on us,” said Mark LaNeve, vice president, U.S. marketing, sales and service, in a statement. Ford and Lincoln [] customers can access their Account Manager profile online at or through the FordPass app; visit; or call a special hotline at 1-800-723-4016. An ad campaign will help raise awareness of the assistance programs. “We want to make sure that anyone who needs assistance knows it’s available,” said Marion Harris, CEO of Ford Motor Credit Company.Ford is also dipping into its philanthropic Ford Motor Company Fund and will give more than $500,000 to nonprofit groups in southeast Michigan that feed seniors and children who are no longer being fed through school programs while most schools are temporarily closed. In other parts of the U.S., Ford is also supporting food programs for children and launching an emergency aid program with the UNCF (United Negro College Fund) to help students travel home if their college or university is closed.GENERAL MOTORS: BUICK, CADILLAC, CHEVROLET, GMCAt General Motors, a dedicated site lists resources available to customers and GM Financial stands ready to work with current customers who need payment assistance. New buyers with good credit are eligible for 0 percent interest on 84-month loans with the first payment deferred 120 days, said a spokesman. The 0 percent offer is reminiscent of the Keep American Rolling program in 2001 to pump up the economy after the 9/11 terrorist attacks.GM is also turning on OnStar crisis assist for emergency calls and routing and providing 3GB of data for three months to help travelers, those working from home, or people taking online classes to use their car as a hotspot.[][|660:371]HYUNDAI, KIA, AND GENESISHyundai [] Motor America and its finance arm Hyundai Capital is bringing back its Assurance Job Loss Protection plan with some modifications. (The Assurance Job Loss Protection program was first used in January 2009 during the financial crisis and recession. The unique program allowed customers to return their new vehicle if they lost their job, and it boosted Hyundai’s popularity.) This time around, Hyundai will make up to six months of payments for new owners who lose their jobs and have purchased or leased their vehicle from a Hyundai dealer between March 14 and April 30, 2020 and financed it through Hyundai Capital.And like Ford, Hyundai is also deferring payments for 90 days on some new leases or purchases from now until April 30 if they are financed by Hyundai Capital. Eligible vehicles include the Santa Fe, Tucson, Elantra, Elantra GT, Kona, Venue, and Accent. “We understand the extreme uncertainty and anxiety experienced by our customers and wanted to tap into Hyundai’s legacy of having people’s back,” said José Muñoz, chief operating officer, Hyundai Motor Company; president and CEO, Hyundai Motor North America. “Bringing back the job loss protection program in this unprecedented time will allow our customers to have one less thing to worry about if something unexpected happens to their employment status.”The Hyundai Group’s luxury brand, Genesis [], offers a similar program. Genesis Care Job Loss Protection will cover six months of payments if you lose your job and had bought a Genesis from a Genesis dealer and financed through Genesis Capital from March 14 to April 30. And those who buy a G70 sedan that’s financed through Genesis Capital before April 30, 2020 can request to have payments deferred for 90 days.Kia [], which is also part of the Hyundai Group, has not yet announced any financial relief programs.NISSANNissan [] Group of North America is also offering deferred payments on new purchases or leases. “To lend some additional support during this period, Nissan Motor Acceptance Corporation (NMAC) will offer 90-day deferred payments for 60 and 72 months for new special APR (annual percentage rate that includes interest and fees) retail customers. Customer-service teams will support individual arrangements for payment rescheduling.”To help dealers, Nissan is giving them breaks, including offering better rates to pay for their inventory. Dealers can also apply for the cashflow-assistance program, which allows six months of interest-only payments on existing mortgages and capital loans.[][|660:371]TOYOTA AND LEXUSToyota []/Lexus [] Financial Services officials say they are “providing payment relief options to customers who are affected. This includes extensions and lease deferred payments.” The automaker continues to evaluate incentives but no new programs are being announced at this time.OTHER LENDERSAmong large lenders, Wells Fargo is telling customers who need financial assistance to call 1-800-219-9739 to discuss their options, while Capital One is telling impacted customers to contact them if their ability to pay their auto loans has been impacted.Additionally, the Wells Fargo Foundation is donating up to $6.25 million to help with global response and the work of public health agencies. That includes $1 million for the CDC Foundation and $250,000 to the International Medical Corps for their work in more than 30 countries. Up to $5 million will be local donations to help communities.The post These Automakers Are Offering Car Payment Relief for Owners and New Buyers [] appeared first on MotorTrend [].

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